Payment Operation definition

Payment Operation means an action initiated by the Client or another Ordering person or by the Beneficiary in order to deposit, transfer or withdraw funds in or from a Current Bank Account.

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Payment Operation means, but not limited to:

Payment Operation means any action initiated by the Client for the purpose of depositing, transferring or withdrawing funds.

Examples of Payment Operation in a sentence

• As the User-Payer is acting for the sole purpose of the execution of a Payment Operation, he/she is considered as a casual payer and consequently no Account is opened under his/her name in the Issuer’s books.

• The Issuer will return the Account to the state it was in before the unauthorised Payment Operation took place In the event it is contested, responsibility for proof that the Operation was identified, duly recorded and accounted for, and that it was not affected by technical or other deficiencies is the responsibility of the Issuer.

• The User recognises that only the statement of the Payment Operation validated by the Issuer is deemed as recognition by the latter of the Electronic Money available in the Account on the day indicated on the statement.

• The methods for transmitting an Order by the User are the following: When the User wishes to carry out a Payment Operation, they will indicate their identification in their Personal Online Area by indicating their Identification Data and, if need be, by following a Strong Authentication procedure if indicated to them.

• Carrying Out the Order: The amount of the Payment Operation will be deducted from the Electronic Money available in the Account to be credited in favour of the Beneficiary following the User’s instructions.

More Definitions of Payment Operation

Payment Operation means a money deposit, transfer or withdrawal initiated by the Payer or the Recipient;

Payment Operation means an action taken by the payer or by the payee to deposit, transfer or withdraw cash, irrespective of the principal relationship between the payer and the payee.

Payment Operation action, initiated by an Originator or by a Beneficiary, consisting of transferring funds between payment accounts in the Union, regardless of any underlying obligations between the Originator and the Beneficiary.

Payment Operation means the payment performed by a User-Payer to a User-Recipient’s benefit for the purchase, by the latter, of a good or service. This Payment Operation takes the form of a purchase of Electronic Money from the Issuer and its transfer on the Account of the User-Recipient designated by the User-Payer.

Payment Operation indicates the transfer of Electronic Money to the Beneficiary indicated on the Site by a User.

Payment Operation indicates a routine or one-time transfer, ordered by the Account Holder or by any representative authorised for this purpose, debited from the Payment Account.

Payment Operation means any action initiated by the paying Client or by another individual in the name and for the benefit of the Client, or by the payee, with the purpose of depositing, transferring or withdrawing funds, regardless of any other subsequent obligations occurring between the payer and the payee, as well as any payment operation initiated through a Payment Initiation Service Provider.